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Effective April 2014, the sales rate in Japan has been adjusted from 5% to 8%. In order to ease the conversion for open transactions, the VAT conversion functionality has been integrated into Exact Gl...

Previously, the bank file generated was in a plain text file format which should be confidential, and it should not be amended during the process of data transmission to the bank. In this product upda...

In China, financial statements have to be reported in a specific format in the local language. These reports are available in Finance à Reports à China Statutory Report à Balance / PL. The cash flow r...

In product update 405, the Golden Tax (GT) functionality was implemented in Exact Globe Next for the Chinese legislation (see Product Update 405: Golden Tax (GT) introduced (Chinese legislation)) but ...

The Golden Tax Project (GTP) was introduced to regulate the compliance of VAT chargeable invoices and reduce tax fraud incidences. GTP is an integrated national computerized taxation system that requi...

In this product update, the Write off (B/S), and Write off (P&L) fields have been added in the Asset groups screen (go to Assets à Assets à Asset groups, and then click New) for the Chinese legislatio...

To comply with legal requirements, several statutory reports are available for the Chinese legislation.The following are the available menu paths for the reports:Financial à Reports à China statutory ...

IntroductionA credit note or credit invoice is used to correct a sales invoice that has been processed or when items from a sales invoice have been returned. The financial transactions created from th...

IntroductionWhen a company’s records show a difference between balance in the cash instrument and the bank statement, reconciliation of the records is necessary to ensure the difference is resolved. I...

IntroductionA payment reference is used to identify a specific payment and is also used for reference in the export or import of bank files in electronic banking. The “XX” that is displayed before and...

IntroductionUsers are able to create document layouts in Documents settings. When creating a document layout, users can select Total in written text and Total in written text(fractions) under the Tota...


IntroductionIn Exact Globe, the functionality to generate the Entry Number based on Reporting Date is supported for specific legislations. This function is extended to Chinese legislation.What has bee...

Menu pathIntroductionThe non-deductible VAT functionality in the purchase journal is implemented in Exact Globe within the standard functionality of VAT. Besides the VAT functionalities, the multiple ...

BackgroundBackground Previously, Chinese legislation users is only able to input the tax percentage up to 2 decimal places. For business requirements, it is necessary to support tax percentage up to 3...

BackgroundBackgroundThe legislation of some countries requires that financial reports show the amount of Accounts receivable and Accounts payable revaluated according to the current official exchange ...